Morning Thoughts

Reviewing the early morning, Bitcoin peaked at 112600 before retreating, dropping below 111000 at its lowest, then rebounding to around 112400 before falling again, currently trading around 111100. Ethereum showed a downward trend overall in the early morning; although there was a weak rebound, it was not strong enough. Ethereum peaked at 4645 before retreating to stabilize at 4484, currently stabilizing around 4500.

From a four-hour perspective, the rebound in bullish momentum is nearing its end, and the trend's continuation is facing significant resistance. Currently, the price is fluctuating around the middle Bollinger Band area, and the strength of resistance at this level will become a key reference for future positioning. Indicators need to closely monitor the outcomes of the struggle between bulls and bears at this juncture. Switching to an hourly level, although the price has reached near the upper Bollinger Band and formed a series of strong bullish candles, the bodies of the bullish candles are continuously narrowing, indicating a clear lack of market enthusiasm for chasing higher prices, and there are substantial signals of obstruction to the continuation of the trend.

Bitcoin: Short in the 111000-111500 range, target near 110000

Ethereum: Short in the 4480-4500 range, target near 4400